The Pentax WG3 may have the fastest lens (f/2 ) of any ruggedized point and shoot...so it would actually have a chance in low light situations. Most traditional ruggedized cameras have slower lenses.
But if you want a cheaper older one, I believe Olympus and Panasonic have the most experience in the ruggedized PnS world.
But you can also buy SCUBA grade enclosures for most enthuiast cameras like the Sony RX100 and Canon s110, and DSlr's too...and get way better IQ than a PnS.